The free trade agreement between India and the UAE is likely to come into effect from May 1 this year, under which domestic exporters of as many as 6,090 goods from sectors like textiles, agriculture, dry fruits, gem and jewellery would get duty-free access to the UAE market, Commerce and Industry Minister Piyush Goyal said on Sunday.
The Comprehensive Economic Partnership Agreement (CEPA) was signed by India and the United Arab Emirates (UAE) in February which aims to boost bilateral trade to $100 billion in the next five years from current $60 billion.
The minister said that the detailed text of the pact has been released in public domain and now “we are trying to complete all our paperwork, all the customs notifications expeditiously. We hope it can be operationalised by May 1, 2022”.
